Calamos Advisors LLC continued to hold its position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,000 shares of the semiconductor company’s stock at the close of the 2nd quarter. Calamos Advisors LLC’s holdings in Synopsys were worth $292,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Synopsys by 11.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,382 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 147 shares during the period. IFP Advisors Inc lifted its stake in shares of Synopsys by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,441 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 415 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in shares of Synopsys by 6.6% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,487 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 92 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Synopsys in the 1st quarter worth $121,000. Finally, Robecosam AG lifted its stake in shares of Synopsys by 10.0% in the 1st quarter. Robecosam AG now owns 2,200 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 200 shares during the period. Institutional investors own 88.95% of the company’s stock.
Shares of Synopsys, Inc. (SNPS) opened at 79.54 on Friday. The firm has a market cap of $11.95 billion, a PE ratio of 37.34 and a beta of 0.99. Synopsys, Inc. has a 52 week low of $56.03 and a 52 week high of $80.70. The company has a 50 day moving average of $77.75 and a 200 day moving average of $74.23.
Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, August 16th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.92. The firm had revenue of $695.40 million during the quarter, compared to analyst estimates of $691.22 million. Synopsys had a net margin of 12.37% and a return on equity of 11.60%. Synopsys’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities research analysts anticipate that Synopsys, Inc. will post $3.31 EPS for the current fiscal year.
Synopsys declared that its Board of Directors has initiated a share buyback plan on Friday, June 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Joseph W. Logan sold 5,000 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.99, for a total value of $384,950.00. Following the completion of the transaction, the executive vice president now owns 63,793 shares in the company, valued at approximately $4,911,423.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chi-Foon Chan sold 3,750 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $77.50, for a total transaction of $290,625.00. Following the completion of the transaction, the chief executive officer now owns 200,429 shares of the company’s stock, valued at approximately $15,533,247.50. The disclosure for this sale can be found here. Corporate insiders own 1.82% of the company’s stock.
Several research firms have recently commented on SNPS. Credit Suisse Group restated an “outperform” rating on shares of Synopsys in a research note on Thursday, August 31st. Needham & Company LLC restated a “buy” rating and issued a $83.00 target price (up previously from $77.00) on shares of Synopsys in a research note on Thursday, August 17th. BidaskClub upgraded shares of Synopsys from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Royal Bank Of Canada raised their target price on shares of Synopsys from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut shares of Synopsys from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.38.
Synopsys Company Profile
Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.
Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPS).
Receive News & Ratings for Synopsys Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys Inc. and related companies with MarketBeat.com's FREE daily email newsletter.